Aston Martin has cut the volume targets of its new sports car after production issues, with the classic British automaker posting a “bigger than expected” quarterly loss.
The luxury car maker saw the value of its shares drop more than seven per cent in early trading today.
As a result, the Gaydon-based company lowered its 2023 volume outlook because of production issues with the new DB12 sports car.
It had been estimated that the brand would deliver 7,000 DB12 units, although this has since been dropped to 6,700 units.
The DB12 comes equipped with the latest infotainment system
ASTON MARTIN
The production of the vehicle has been affected by “supplier readiness” and delays in the integration of the new technology platform.
However, the company said the issues had now been resolved with strong demand and a healthy amount of orders from customers.
Aston Martin listed a loss of £48.4million in the three-month period up to the end of September.
The DB12 has been heralded as a “new era” for Aston Martin as it moves into the next generation of sports cars, with the slick vehicle starting from £185,000.
Lawrence Stroll, executive chairman of Aston Martin, said the introduction of the DB12 had seen enormous benefits for the historic marque.
He added: “The launch of the DB12, which has seen extraordinary demand, is driving a reappraisal of Aston Martin amongst new audiences, with 55 per cent of initial DB12 customers new to the brand.”
Aston Martin, which equips James Bond with the latest and greatest of its vehicles, unveiled the new supercar in May earlier this year.
As with all Aston Martin models, the DB12 boasts an incredible set of performance markers to entice drivers into making a purchase.
It has an impressive top speed of 202mph and can accelerate from zero to 60mph in just 3.5 seconds.
The DB12 comes equipped with an “ultra-luxurious” interior design with the brand focusing on a driver-centric cockpit, with the latest technologies embedded in the infotainment system.
The connected subscriptions and features include theft alert, voice assistant, trip data, breakdown call, privacy mode and even Aston Martin Concierge.
Amedeo Felisa, Chief Executive Officer of Aston Martin, said: “When a brand has as much history as Aston Martin it is important to honour the past.
“Not by looking back, but by pushing on with the same energy and passion that propelled our founders 110 years ago.
“With the new DB12 we are reinvigorating the DB model line and reasserting Aston Martin as a maker of truly exceptional performance sport cars.
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The production of the vehicle has been affected by 'supplier readiness'
ASTON MARTIN
“By combining class-leading performance and exceptional chassis dynamics with cutting-edge technology, impeccable craftsmanship and immaculate design, DB12 leads Aston Martin into a new era of excellence.”
